LOS ANGELES, CA, July 09, 2014 /24-7PressRelease/ -- The film financier used crowdfunding to raise money that fed homeless youth across Los Angeles in the summer of 2013. Using the platform Indiegogo, he also raised the profile of 'Sugar', an indie film about street youth in Venice Beach. Broidy's efforts have other film producers eyeing the potential of crowd financing for their movies.
Young adults aged 18-24 are the fastest growing segment of the homeless population, according to Homelessness Resource Center (HRC). HRC also notes that children under the age of 18 are not far behind. This phenomenon forms the plot for 'Sugar', a joint effort between Director Rotimi Rainwater and Executive Producer Elliott Broidy.
'Sugar' is a young woman who lives homeless in Venice Beach after the tragic death of her family. Her struggles raise awareness and give insight into the little known issue of youth homelessness.
Facing a limited budget, Broidy and Rainwater used social media to raise the film's profile. Their efforts scored a screening before Congress, an award at the Manhattan Film Festival and exclusive showings in cities across the country. To capitalize on momentum, the 'Sugar' team wanted to expand outreach further and more quickly.
Enter Broidy, who led the Indiegogo campaign to provide meals for youth living on the streets of Los Angeles. Aside from feeding hungry mouths, the campaign showed how a powerful message and quality plot can overcome low budgets in movie finance.
Private investors and syndicates have long been a staple of Hollywood. However, the model has mostly applied to larger budget films with broad appeal, such as action or comedy. 'Sugar' is a prime example of how indie films with niche messages can rally mass support. The film industry has taken notice and more producers are looking at crowdfunding for movies of all sorts.
As studio and investor demands increase; crowd financing for movies will likely soar in coming years. Producers can look to Elliott Broidy and Rotimi Rainwater for a shining example of how this concept works.
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